Unfortunately, since you are in NYS, you only have 15 days to return the security deposit, and getting a contractor out there for a quote (much less, three), is not going to happen. 

Follow his advice to the letter, and do it this week to go along with your price decrease. 

@Lucas Hannon so, you're going to manage a property that you don't own?

We ended up going back to the tried and true Excel Spreadsheet.

Although many investors never get started due to analysis paralysis, considering that even the most experienced investors have had a deal or two go south, I wonder how many investors also end up never finding success because of a mistake on their first deal.

A group of us 4 investors are looking to form a partnership to purchase a property for commercial purposes and have a few questions about if we are going about this in the most efficient way.

I was able to get more information on the property then if I didn’t know the seller and I’m still able to contact the seller if I have questions.

Hello,I'm looking for guidance on how to determine fair rents for a commercial property with two tenants.

you would need to make monthly payments to the seller during the rehab, just like to any other lender, and then if it were a rental, you would want the rent to cover the payments plus all other expenses.you'd also need to figure out how to pay for the rehab - either out of pocket, or finance it somehow. 

Do you want to be an investor.